In January, Loewe said that they had found a solution to its financial troubles in a group of investors consisting of former B&O and Apple employees. However, the group pulled out in the last minute, but a new buyer has been found in Stargate Capital.
Loewe bought by German investment fund
The first buyer Panthera was announced in January and they had big plans to turn around struggling TV maker Loewe. But before signing the final papers they pulled out for unknown reasons.
Instead, Stargate Capital, an investment fund, has jumped on the offer to buy Loewe. They still need to put their signature on the final paper this April, but it is expected to be a formality. Stargate says that two-thirds of the workers at the plant in Kronach, Germany, will remain employed. Stargate will also take over Loewe’s international subsidiaries.
Loewe recently launched cheaper TVs and confirms that they will launch several new products at IFA 2014 in Berlin this September.